JAKARTA (Yosefardi) – Oil and gas company PT Medco Energi International Tbk (MEDC) posted profit attributable to equity of US$10.1 million in 2014, declined 19.6% from US$12.58 million in 2013. Net profit margin was 1.3% while operating profit margin reached 21.4%.
Revenues fell 15.3% to US$750.73 million from previous US$886.52 million. Operating profit declined 35.1% to US$160.64 million from earlier US$247.69 million.
Net oil and gas sales accounted for US$701.42 million, declined 15% from US$826.84 million in 2013. Revenue from coal was US$36.15 million and revenue from services totaled US$13.15 million. Sales to Petro Diamond Singapore Pte Ltd totaled US$231 million while sales to Petro Diamond Co Ltd, Hong Kong reached US$35.26 million.
MEDC’s assets totaled US$2.7 billion while liability amounted US$1.78 billion.